Corning Incorporated $GLW is London Co. of Virginia's 3rd Largest Position

Key Points

• London Co. of Virginia reduced its Corning stake by 2.2% in the fourth quarter, but Corning still remains its 3rd largest position. The firm held 5.82 million shares worth about $509.9 million as of its latest SEC filing.
• Insider selling picked up, with Corning executives Michaune D. Tillman and Soumya Seetharam both selling shares in May. Over the last 90 days, insiders sold a total of 160,655 shares valued at about $30.7 million.
• Analysts remain cautiously positive on Corning, with a consensus rating of Moderate Buy and an average price target of $178.31. The company also reported better-than-expected quarterly earnings and revenue, and it raised its Q2 2026 EPS guidance.

London Co. of Virginia cut its stake in Corning Incorporated (NYSE:GLW - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,823,446 shares of the electronics maker's stock after selling 131,933 shares during the period. Corning comprises approximately 2.9% of London Co. of Virginia's portfolio, making the stock its 3rd largest position. London Co. of Virginia owned about 0.68% of Corning worth $509,902,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new position in Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new position in Corning in the fourth quarter worth $26,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning in the third quarter worth $25,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning in the fourth quarter worth $31,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Soumya Seetharam sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company's stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock valued at $30,692,561 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Truist Financial upped their price target on shares of Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Wall Street Zen lowered shares of Corning from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Finally, UBS Group upped their price target on shares of Corning from $223.00 to $228.00 and gave the company a "buy" rating in a research report on Friday, June 5th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $178.31.

Corning Stock Performance

Shares of GLW opened at $177.34 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a one year low of $49.97 and a one year high of $211.79. The company has a 50-day simple moving average of $178.51 and a two-hundred day simple moving average of $135.42. The firm has a market capitalization of $152.62 billion, a PE ratio of 84.85, a price-to-earnings-growth ratio of 2.69 and a beta of 1.15.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business posted $0.54 earnings per share. Corning's quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts anticipate that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's dividend payout ratio (DPR) is 53.59%.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.